Consumer Advice Learn More CFTC Consumer Advisory • No matter what you’re told, forex trading is risky. For information & educational materials on the legitimate foreign currency market and/or forex • Don’t be pressured into an immediate decision. fraud, call the CFTC Consumer Hotline at U • secommonsense. 1-866-FON-CFTC (1-866-366-2382) or visit • Get everything in writing. our website www.cftc.gov and click • Check with the CFTC. on “Consumer Advisories.” • Seek advice from an accountant, lawyer or an independent 3rd party. • Don’t invest more than you can afford to lose. • Don’t mortgage your home or cash in your savings to trade forex. Other useful resources: National Futures Association www.nfa.futures.org North American Securities Administrators Association’s Fraud Center www.nasaa.org EXERCISE Financial Literacy and Education Commission CAUTION www.mymoney.gov WITH YOUR MONEY Commodity Futures Trading Commission 1155 21st Street NW • Washington, DC 20581 NO.6 Phone (202) 418-5000 • www.cftc.gov I F I T S O U N D S T O O G O O D T O B E T R U E , I T P R O B A B L Y I S ! Be Alert Ifyouhearthis.... “ Youcanmakesix-figureprofitswithinayear.” “ Forexinvestmentsareverylowrisk.” “ Youcandoubleyourmoney.” “Mortgageyourhouseoruseyourretirementfunds. Myrecommendationscan’tmiss.” Unsafe Conditions “ Youwillmakemoneywhetherexchangerates Forexfraudsterstypically: moveupordown.” • Promise profits, but they don’t deliver- “Youmustinvestrightnoworitwillbetoolate.” their customers lose money instead! • Claim most customers make money, when ....Don’tInvest in fact most lose. • Claim to be trading customers’ funds, when Moving Violations in fact they are stealing them. In a recent period, the CFTC filed over • Give you phony success stories from made-up 80enforcementactions in federal court against customers. hundredsoffirms, owners and employees • Create fake account statements showing for defrauding over23,000customers who false trading profits. lostover$300million in these forex schemes. • Claim that they have been in business for Many of these forex fraudsters were years, when in fact it is often only months. also criminally prosecuted and are now in jail. • Claim to be solid and stable firms, until However, the defrauded investors rarely they disappear and leave customers’ calls unanswered. recovered any of the funds they lost.